Photo by Anamul Rezwan on Pexels.com
India’s steel industry, the world’s second-largest, faces a looming threat as the EU ramps up carbon regulations with the Carbon Border Adjustment Mechanism (CBAM) starting in 2025, fully effective by 2034. With 25% of its steel exports destined for Europe, India risks steep penalties—up to $397 per tonne by 2034—due to its carbon-intensive production, per Rystad Energy.
This could erode its market edge, favoring competitors like South Korea and Turkey. Transitioning to greener tech like hydrogen is urgent but costly. Quote: “Reducing carbon emissions could become a competitive necessity as buyer sentiment evolves,” says Alistair Ramsay, Rystad Energy VP.
Read More News on Business News Malaysia
Read More News on Business News Malaysia
Malaysia's SMEs must prioritize cybersecurity amidst rising online threats, employing strategies like Multi-Factor Authentication and…
We expect the benchmark to trade within the 1,725–1,740 range today.
The UAE’s departure from OPEC+ effective May 1, 2026, removes a key pillar of market…
Maxim and Zlata launch tailored insurance, offering accident coverage, support services, and flexible payment options…
AmBank upgrades MISC to Buy, raises TP to RM9.40, citing stronger tanker rates, resilient contracts,…
Steel Hawk Bhd's subsidiary has secured a logistics contract with Petronas Gas, effective from April…
This website uses cookies.